News about lenders: Post Bankruptcy Collections, Auto Loans, and Pay-Day Lenders
If you have had some difficulty with making debt payments recently, this article may be for you. It is has been reported in several places including the Wall Street Journal, that even though people declared bankruptcy, some lenders still tried to collect on the old debt. This is an illegal practice, where the lenders or… Read More »
Comparison of Public Pensions to 401(k)s
There as been a lot of talk lately about retirement pension plans for public employees. Public employees being any state, city or county employee. Interesting article in the Wall Street Journal today comparing public pensions to private workers with 401(k)s.
Tax Cut Deal Agreed to
The House plans to vote on a new version of the Senate-passed bill to extend the payroll tax cut that was set to expire January 1st. What this means immediately to your personal finances is that your net take home pay decrease remains at least for a couple more months, by not reverting to the 6.2% regular… Read More »
Unions Win More Freedom to Organize
Article in today’s Wall Street Journal about Unions Won More Freedom to Organize. This is a win for labor, and a loss for big business, however time will tell if giving more power to unions will lead to more of them organizing, and effect business growth and their hiring. Most people though are concerned about… Read More »
Bank Of America To Pay $335 Million In Fair Lending Case
Fox reported today that Bank Of America To Pay $335 Million Settlement In Fair Lending Case | Fox News to resolve allegations that its Countrywide unit engaged in discrimination of African-American and Hispanic borrowers.
Mortgage Settlement Possibly Forthcoming
Housing and Urban Development and some state officials are negotiating a settlement in the ballpark of $25 billion, with the 5 largest mortgage providers: J.P. Morgan Chase, Bank of America, Citigroup, Ally Financial, and Wells Fargo that could benefit some homeowners with troubled mortgages, the Wall Street Journal reported today. Some homeowners could benefit by… Read More »
Blackest of Fridays?
Interesting essay at TheMinimalists.com “The Blackest of Fridays,” commenting about the biggest shopping day of the year following Thanksgiving “On this day, people consume gluttonously without regard for the harm they’re inflicting on themselves. On this day, greed becomes ravenous. On this day, people live without real meaning, buying gifts to fill a void that can’t possibly… Read More »
Washington DC Corruption?
Did you know that our Federal lawmakers are exempt from insider trading laws? According to the report on 11/13/11 CBS 60 minutes lawmakers can and do buy stock and real estate based on secret inside information, in some cases information that they are privy to because they serve on special private committees. If anyone else… Read More »
Tax Strategy Patents
Some providers of financial products and services, think that they have found or created a unique tax strategy and will submit that strategy for patent protection. Some believe that owning such a strategy provides them with market protection and potential income when others what to license their strategy. President Obama recently signed the America Invents Act (Public… Read More »
Mortgage Insurers Struggling
An article in The Wall Street Journal 11/15/11 about the Federal Housing Administration or FHA “Loan Backer’s Cash Runs Low” states that an audit being released today that FHA has close to a 50% chance of running out of money and require a tax-payer bailout. This follows the 10/23/11 news that PMI group the third largest mortgage insurer was taken over… Read More »
